How to File a Corporate Name Reservation in Oregon
Filing a corporate name reservation in Oregon is a crucial step for business owners looking to establish their companies officially. This process ensures that your desired business name is available and protected while you complete the necessary incorporation paperwork. Here’s a detailed guide on how to file a corporate name reservation in Oregon.
Step 1: Choose a Unique Business Name
Before you begin the reservation process, it’s essential to select a name that reflects your business identity while ensuring it is unique. You can check the availability of your desired name by searching the Oregon Secretary of State’s business registry online. Your business name must not be similar to or too closely resemble an existing registered name in Oregon.
Step 2: Prepare the Necessary Information
To file a corporate name reservation, you will need the following information:
- The name you want to reserve
- Your name and contact information
- The type of business entity (e.g., corporation, limited liability company)
Step 3: Complete the Name Reservation Application
Oregon’s Secretary of State has an online portal where you can fill out the name reservation application. You can also download a paper form if you prefer to submit it via mail. The application will require you to input the information collected in Step 2. If you are using the online system, ensure your information is accurate, as this will expedite the process.
Step 4: Pay the Required Fee
There is a nominal fee for reserving your corporate name in Oregon, typically around $100. If you are filing online, payment can be made directly through the Secretary of State’s website using a credit or debit card. For mailed applications, include a check or money order made out to the Oregon Secretary of State.
Step 5: Submit Your Application
If you are filing online, simply hit the submit button after completing your application and payment. If mailing your application, send the completed form along with payment to:
Oregon Secretary of State
Corporation Division
P.O. Box 14950
Salem, OR 97309-0950
Step 6: Confirmation of Reservation
Once your application is processed, you will receive confirmation from the Secretary of State’s office. The name will be reserved for a period of 120 days, giving you ample time to finalize your business formation. If you need more time, you can apply for an extension.
Step 7: Use the Reserved Name
During the reservation period, you can proceed with drafting and filing the necessary documents to officially form your corporation or LLC. The reserved name must be used when submitting these documents to ensure that it remains protected during the formation process.
Step 8: Renew Your Reservation If Necessary
If you do not complete the formation of your business within the 120-day reservation period, you will need to file for a renewal. This can be done by submitting a new name reservation application and paying the associated fee again.
In conclusion, filing a corporate name reservation in Oregon is a straightforward process that provides essential protection for your chosen business name. By following these steps, you can secure your corporate identity and focus on building your business.